Northern Trust Corp Boosts Stock Position in Eaton Co. plc (NYSE:ETN)

by · The Cerbat Gem

Northern Trust Corp raised its position in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 8.8% during the 4th quarter, Holdings Channel reports. The firm owned 4,574,704 shares of the industrial products company’s stock after buying an additional 368,241 shares during the quarter. Northern Trust Corp’s holdings in Eaton were worth $1,518,207,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ETN. Morse Asset Management Inc purchased a new stake in shares of Eaton in the third quarter worth about $33,000. Bard Financial Services Inc. purchased a new stake in shares of Eaton in the third quarter worth about $255,000. Advisory Resource Group boosted its stake in shares of Eaton by 10.9% in the third quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company’s stock worth $1,444,000 after buying an additional 428 shares during the last quarter. Chelsea Counsel Co. boosted its position in Eaton by 29.4% during the third quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 50 shares in the last quarter. Finally, Tudor Financial Inc. purchased a new position in Eaton during the third quarter worth approximately $265,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.7 %

Shares of NYSE:ETN opened at $288.91 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market capitalization of $113.19 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm’s 50-day moving average is $281.54 and its two-hundred day moving average is $323.11. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN – Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the firm earned $2.55 EPS. Analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.44%. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent analyst reports. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. KeyCorp lowered their price target on Eaton from $340.00 to $325.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.22.

Read Our Latest Report on Eaton

Eaton Profile

(Free Report)

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.

Further Reading

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